July 2018 Oahu Real Estate Market Update


Oahu Housing Sales and Prices Steady in July

Oahu’s housing market remained relatively flat in July according to resales figures released today by the Honolulu Board of REALTORS®. The analysis conducted by the Board using data collected from its computerized Multiple Listing Service (MLS) system show the following statistics:

Single-Family Home Resales

Number of Sales Median Sales Price
July 2018 330  -1.5% $789,500  +5.3%
July 2017 335 $750,000

Condominium Resales

Number of Sales Median Sales Price
July 2018 502  +5.7% $429,500  +1.1%
July 2017 475 $425,000

In July 2018, the median sales price of single-family homes rose moderately by 5.3 percent from July 2017, while the median price for condominiums increased by 1.1 percent. Sales of single-family homes dipped by 1.5 percent and condominium sales were up by 5.7 percent from the same month last year. According to the Days on Market indicator, the median days for single-family homes was 13 and 18 days for condominiums.

“The market is experiencing a leveling off after last year’s record prices and paces,” said Darryl Macha, president of the Honolulu Board of REALTORS®. “However, new listings for both single-family homes and condominiums on Oahu were up again last month, as were active listings, a positive indicator of steady housing inventory for homebuyers.”

About the Author

Brandon Lau grew up in Kailua and currently resides in Honolulu with his wife Andee and children Caylah, Elijah, and David. His eighteen years in real estate led him to become a Partner at ChaneyBrooks Choice Advisors. Over the past 10 years he has developed the team and systems that has created a high level of service and value for his clients.

What differentiates Brandon and his team is his consultative approach to real estate. He advises clients with relevant data and expert insight to help them make the best choices in real estate. Good choices in planning for long term dispositions, negotiating for the best price or knowing when not to pursue an investment are ways his consultative services will give you an advantage in the marketplace. His bottom line is providing service with the utmost integrity and expertise.